FW Capital, one of the UK’s largest regional fund managers, has relocated to a new office in Cumbria, making them even more accessible to local businesses and networks.
The new office is located at Kelsick Grammar in the picturesque town of Ambleside. From here the team will deliver funding through NPIF II – FW Capital Debt Finance which is managed by FW Capital as part of the Northern Powerhouse Investment Fund II. It provides debt finance options from £100,000 to £2million to businesses based in Cumbria and the North West of England.
Gary Guest, FW Capital Fund Director said: “This is a significant move for FW Capital, strengthening our presence in Cumbria. We’re privileged to be able to empower and support the local business community, providing access to finance in an area that has historically been underserved, despite being a hub of diverse businesses full of potential. To date we have invested over £6milion in the area, with the most prolific sector being manufacturing. Cumbria is a thriving region that is a hotspot for leisure, tourism, retail and agricultural sectors. These are areas we were unable to fund under the first NPIF, but we are now able to back these businesses with NPIF II.”
Joe O’Connor, FW Capital Investment Executive added: “We’re working hard to help more Cumbrian businesses tap into the funding available from NPIF II - FW Capital. This office move brings us closer to the heart of Cumbria and the Lake District, reinforcing our commitment to the region and readiness to support local businesses across a wide variety of sectors. The office is in a beautiful spot overlooking the entire town of Ambleside and Lake Windemere. It’s a fantastic place to work.”
Sue Barnard, investment manager at British Business Bank said: “Cumbria is home to many businesses that are in need of investment, and we’re excited that FW Capital is taking the steps to make sure that NPIF II will be even easier to access in the region. By being on the ground, this will certainly lead to more investments made in the area, giving Cumbrian business owners the confidence that there is support out there for them to turn their growth plans into reality.”
FW Capital has a strong track record of providing flexible finance to dynamic businesses across various funds and currently manage funds of £430.8m. Last year FW Capital reached a milestone of delivering £400 million of impact to businesses across the North through the first Northern Powerhouse Investment Fund.
The £660m Northern Powerhouse Investment Fund II (NPIF II) covers the entire North of England and provides loans from £25k to £2m and equity investment up to £5m to help a range of small and medium sized businesses to start up, scale up or stay ahead.
The Northern Powerhouse Investment Fund II builds on the success of the initial fund, with the purpose of driving sustainable economic growth by supporting innovation and creating local opportunity for new and growing businesses across the North of England.
The Northern Powerhouse Investment Fund II increases the supply and diversity of early-stage finance for the North’s smaller businesses, providing funds to firms that might otherwise not receive investment and help to break down barriers in access to finance.
NPIF II - FW Capital Debt Finance can provide loans in the NPIF II area with a primary focus on the North West regions of Cheshire, Cumbria, Greater Manchester, Lancashire and Merseyside.”
